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SEC Filings

OREXIGEN THERAPEUTICS, INC. filed this Form S-1/A on 02/16/2007
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3.1 Base Salary. Executive shall receive for services to be rendered hereunder an annual base salary of $[•] (“Base Salary”), payable on the regular payroll dates of the Company.
3.2 Annual Bonus. In addition to the Base Salary, Executive will be eligible for an annual performance bonus, equal to up to 25% of the Base Salary, and which is 100% based upon the achievement of the performance goals and objectives to be determined by the compensation committee of the Board (“Annual Bonus”). Such Annual Bonus shall be evaluated and paid in January of each year.
3.3 [Signing Bonus. Executive has received a signing bonus of [•]. [Such signing bonus is subject to repayment in the event Executive’s employment with the Company is terminated for any reason. Repayment of the signing bonus shall be forgiven by [•] on each of the first and second anniversaries of Executive’s commencement of employment with the Company.]]
3.4 Vacation and Paid Time Off. Executive shall be entitled to [•] business days of paid vacation each year, accruing on a monthly basis, [•] personal days, and [•] holidays each year.
3.5 Expenses. During the term of this Agreement, the Company shall reimburse Executive for all reasonable and necessary out-of-pocket expenses incurred by Executive in connection with services rendered on behalf of the Company subject to Executive providing the Company with appropriate substantiation in accordance with Company policy.
3.6 Standard Company Benefits. Executive shall be entitled to all rights and benefits for which Executive is eligible under the terms and conditions of the standard Company benefits and compensation practices that may be in effect from time to time and are provided by the Company to its executive employees, employed at similar full-time or part-time status, as applicable, generally.
4.1 Severance Benefits. If Executive’s employment terminates due to an Involuntary Termination Without Cause or a Covered Termination, Executive shall receive any annual base salary that has accrued but is unpaid as of the date of such Involuntary Termination Without Cause or Covered Termination. In addition, provided Executive first executes and does not revoke an effective general release in the form and substance acceptable to the Company, Executive shall also be entitled to continue to be compensated by the Company, at Executive’s annual base salary as in effect during the last regularly scheduled payroll period immediately preceding the Involuntary Termination Without Cause or Covered Termination, for a period of nine months, payable on the regular payroll dates of the Company and subject to applicable tax withholding.